Its high-end nebuliser products are used in acute care facilities in 65 countries throughout the world.

The European Business Awards recognise companies that excel in delivering innovation twinned with successful commercial results.

Last year, they showcased 100 Ruban d’Honneur recipients with a combined turnover greater than €766bn (6pc of EU GDP) and employing more than 3.5m people.

Expanding into new market areas

“Aerogen has worked hard to establish a focused growth strategy which has enabled us to expand our business into new market areas, such as drug delivery partnerships, alongside our core product offerings. In fact, since our management buyout in 2008 we have quadrupled sales," said John Power, CEO of Aerogen.

Aerogen was the first to deliver a vibrating mesh technology to the intensive care hospital setting, the growth of which has been key to its progress. Through a structured diffusion strategy Aerogen’s technology is used in a variety of settings, from critical hospital settings to home care, as well as enabling the technology to be used in drug delivery combinations.

The Galway company will join companies from across Europe, including two other Irish recipients, Realex Payments and Unicare Pharmacy, at a gala awards dinner to be held in Barcelona in November.